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Alcoa (AA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Alcoa (AA - Free Report) reported revenue of $2.91 billion, up 8.3% over the same period last year. EPS came in at $0.16, compared to -$0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.96 billion, representing a surprise of -1.92%. The company delivered an EPS surprise of +45.45%, with the consensus EPS estimate being $0.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Alcoa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average realized third-party price per metric ton of alumina: $399 versus the two-analyst average estimate of $383.76.
Average realized third-party price per metric ton of aluminum: $2,858 versus the two-analyst average estimate of $2,999.99.
Third-party alumina shipments in Tons: 2,267 Kmt versus 2,245.65 Kmt estimated by two analysts on average.
Third-party aluminum shipments in Tons: 677 Kmt versus 653.99 Kmt estimated by two analysts on average.
Total sales- Alumina: $1.47 billion versus $1.39 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +13.6% change.
Total sales- Aluminum: $1.90 billion versus $1.98 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.9% change.
Third-party sales- Bauxite: $96 million versus the two-analyst average estimate of $110.07 million. The reported number represents a year-over-year change of -15%.
Third-party sales- Alumina: $914 million versus $875.72 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.2% change.
Intersegment sales- Aluminum: $3 million versus the two-analyst average estimate of $4.50 million. The reported number represents a year-over-year change of -25%.
Total Third-party sales: $2.91 billion versus the two-analyst average estimate of $2.96 billion. The reported number represents a year-over-year change of +8.3%.
Intersegment sales- Alumina: $457 million versus $400.09 million estimated by two analysts on average.
Third-party sales- Aluminum: $1.90 billion versus the two-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of +6%.
Shares of Alcoa have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Alcoa (AA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Alcoa (AA - Free Report) reported revenue of $2.91 billion, up 8.3% over the same period last year. EPS came in at $0.16, compared to -$0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.96 billion, representing a surprise of -1.92%. The company delivered an EPS surprise of +45.45%, with the consensus EPS estimate being $0.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Alcoa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average realized third-party price per metric ton of alumina: $399 versus the two-analyst average estimate of $383.76.
- Average realized third-party price per metric ton of aluminum: $2,858 versus the two-analyst average estimate of $2,999.99.
- Third-party alumina shipments in Tons: 2,267 Kmt versus 2,245.65 Kmt estimated by two analysts on average.
- Third-party aluminum shipments in Tons: 677 Kmt versus 653.99 Kmt estimated by two analysts on average.
- Total sales- Alumina: $1.47 billion versus $1.39 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +13.6% change.
- Total sales- Aluminum: $1.90 billion versus $1.98 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.9% change.
- Third-party sales- Bauxite: $96 million versus the two-analyst average estimate of $110.07 million. The reported number represents a year-over-year change of -15%.
- Third-party sales- Alumina: $914 million versus $875.72 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.2% change.
- Intersegment sales- Aluminum: $3 million versus the two-analyst average estimate of $4.50 million. The reported number represents a year-over-year change of -25%.
- Total Third-party sales: $2.91 billion versus the two-analyst average estimate of $2.96 billion. The reported number represents a year-over-year change of +8.3%.
- Intersegment sales- Alumina: $457 million versus $400.09 million estimated by two analysts on average.
- Third-party sales- Aluminum: $1.90 billion versus the two-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of +6%.
View all Key Company Metrics for Alcoa here>>>Shares of Alcoa have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.